El Salvador's bitcoin digital wallet beset by technical glitches

10/9/2021 10:49:00 PM

El Salvador's bitcoin digital wallet beset by technical glitches

El Salvador's bitcoin digital wallet beset by technical glitches

SAN SALVADOR : For a fourth day in a row technical glitches have beset the Salvadoran government's bitcoin digital wallet Chivo, a setback that could discourage residents from signing up to the app promoted by President Nayib Bukele.Problems accessing the wallet, withdrawing money from ATMs, and data veri

LinkedIn SAN SALVADOR : For a fourth day in a row technical glitches have beset the Salvadoran government's bitcoin digital wallet Chivo, a setback that could discourage residents from signing up to the app promoted by President Nayib Bukele.Read full article 9 September 2021, 7:35 pm · 2-min read FILE PHOTO: Mexico's Central Bank Governor Alejandro Diaz de Leon Carrillo speaks during the presentation of the national financial inclusion policy, in the Interactive Museum of Economics (MIDE) in Mexico City MEXICO CITY (Reuters) - Bitcoin is more like a means of barter than "evolved" fiat money, Mexico's central back chief said on Thursday, calling it a high-risk investment and a poor store of value.During his official visit to the United States, Zelensky met with some of the biggest investors from the crypto industry and emphasised his country’s advances in the digital sector.LinkedIn WASHINGTON : Technological glitches will cause the U.

Problems accessing the wallet, withdrawing money from ATMs, and data verification, as well as the government not depositing the US$30 bonus Bukele promised all Chivo users were the most frequent issues, according to interviews with at least 10 users and user complaints posted on Twitter and Facebook.Melvin Vasquez, a 30-year-old tattoo artist, downloaded Chivo on Tuesday, when the bitcoin law went into effect, but has since been unable to use it."Whoever receives bitcoin in exchange for a good or service, we believe that (transaction) is more akin to bartering because that person is exchanging a good for a good, but not really money for a good," said Diaz de Leon."I want to see if I can buy something, but it won't even let me enter," Vasquez lamented, after trying to buy pizza at a restaurant on the outskirts of San Salvador.Over the past year, we have managed to make a real breakthrough in the digital sphere."They should have prepared more."Bitcoin is more like a dimension of precious metals than daily legal tender..com/world/us/us-47-billion-grant-programs-tech-woes-take-toll-justice-groups-2021-07-12" are delaying more than half of the criminal justice grants to municipalities, states, research institutions and non-profits that the department would normally award by the end of the fiscal year on Sept.

.He added that bitcoin would also need to safeguard its value.Ukraine – magnet for crypto developers Zelensky met with representatives of the Stellar Development Foundation, a non-profit organisation founded in 2014 to support the development and growth of the open-source Stellar network, and the institution can find more opportunities to expand its activities.It is not so convenient." User complaints were also stacking up in Apple's App Store and Alphabet's Google Play."People will not want their purchasing power, their salary to go up or down 10% from one day to another."I downloaded it and entered all my data.5 billion per year.Now when I want to log in again, it doesn't let me and it doesn't recognize my pin or face ID.In that sense, it is not a good safeguard of value," he said.com/world/us/top-us-senator-demands-inquiry-into-justice-dept-grants-system-2021-07-21 of the program.

I don't have other options.Truthfully, a really bad app!," said one user.Bitcoin has been notoriously volatile.He also said Ukraine would provide maximum assistance to foreign and Ukrainian investors, and noted the state was ready to address the concerns of investors and cooperate with them.Bukele stepped in https://www.reuters.It last traded up 2.com/technology/it-guy-in-chief-president-tries-fix-el-salvadors-bitcoin-woes-2021-09-08 on Wednesday to manage the fraught roll-out of the payments app that underpins El Salvador's adoption of bitcoin as legal tender.Earlier this year, Mykhailo Fedorov of the Ministry of Digital Transformation signed a memorandum of understanding with the foundation aimed at supporting the ongoing efforts of the Ukrainian government to develop a legal framework.4 billion by Sept.

Chivo, which promises commission-free transactions and his administration hopes will be adopted by the unbanked, has been disconnected several times to repair the glitches.04.Bukele's administration is aiming for 2.5 million Salvadorans, some 39per cent of the population, to download Chivo, named after a local word for 'good.The minister added that Ukraine was developing a virtual asset market and had one of the world’s biggest blockchain developer communities.' He has argued that bitcoin would allow Salvadorans to save on US$400 million each year in commissions for remittances.But many of the very people sending or receiving dollars to El Salvador are mistrustful of bitcoin.5 billion, are targeted to be awarded by Dec.

Some expressed fears of losing money, given the high volatility of the cryptocurrency.As the politician Oleksiy Honcharenko commented on a , “in his Plan of Transformation of Ukraine for 5-10 years, Zelensky presented 80 projects worth $277 billion.Bitcoin has experienced daily trading moves of 10per cent or more 10 times this year, as it did both in 2020 and 2019, according to Refinitiv data.In 2018 and 2017, there were 17 days each year of 10per cent moves or more.(Reporting by Nelson Renteria in San Salvador; Additional reporting by Diego Ore in Mexico City; Writing by Anthony Esposito; Editing by Rosalba O'Brien) Source: Reuters.

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Just use the SAFEMOONWALLET wallet when it's out. It's coming out soon😉 Really liking the look of this price action. Showing some signs of strength towards the end of the week . Will definitely be looking to long this action if we break above 46k $BTC I following rawkz_t I’ve been doing extremely superb, her tweets has been accurate & helpful

Bitcoin is barter, not money, Mexico central bank chief saysBitcoin is more like a means of barter than 'evolved' fiat money, Mexico's central back chief said on Thursday, calling it a high-risk investment and a poor store of value. Bank of Mexico Governor Alejandro Diaz de Leon's comments suggest Mexico will not be following El Salvador any time soon in adopting the digital currency as parallel legal tender. 'Whoever receives bitcoin in exchange for a good or service, we believe that (transaction) is more akin to bartering because that person is exchanging a good for a good, but not really money for a good,' said Diaz de Leon.

Ukraine to develop legal crypto marketUkraine president Volodymyr Zelensky has said the launch of a legal digital assets market in the country is of ‘utter importance’.

Exclusive-Tech woes will delay around US$ 3 billion in US Justice Department grants-documentsWASHINGTON : Technological glitches will cause the U.S. Justice Department to be late in paying out around US$3 billion in grants that fund programs such as victims services and criminal justice research, according to internal documents seen by Reuters.The problems with the grant management system known a

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